Myanmar is now becoming one of the world's most sought-after countries after its democracy started blossoming, signalling that it is ready to open up and woo foreign investors. The country's banking and insurance systems are undergoing extensive reforms.
There are plenty of opportunities for doing business in Myanmar. Investors from Japan, Korea, Scandinavia, China, India, Russia and ASEAN, have been rushing into the country. Myanmar has potential as a production base in the region for giant manufacturers and is poised to return to international markets. For the economy to take off, a sound infrastructure set up in all sectors, in addition to a normalized exchange rate, a modernised banking and insurance sector, are the necessary requisites. In recent days, European and US business interests have increased substantially. The US government would soon issue a general license to permit U.S. investments across Myanmar's economy, allowing U.S. energy, mining and financial services companies to look for opportunities in an economy which is rapidly re-opening. With the suspension of sanctions by the Europeans, the easing of restrictions by USA, the forgiving of debts, resumption of aid & direct air travel by Japan and an eventual hoped-for lifting of all restrictions in the not-too-distant future, the country, with the support of the international community, is set to re-join the international business community. Two new foreign telecom licences just issued, will help the country leapfrog in improved communication, within and without. The World Bank has pledged US$2 billion to fund new infrastructure projects in the country.
Over & against this very bright spot, however, with the recent turmoil in emerging market currencies & a China slowdown, the question is being asked: are tough times ahead for emerging market economies? Or are the fears on emerging markets overblown? After the 1997 financial crisis, financial institutions in Asia have undergone substantive structural and systemic reforms. Emerging markets now comprise half of the world's economy!
Can banks in Asia manage a potential credit and liquidity crunch, currency volatility and potential default risks? Can a US pick up improve exports from Asia, notwithstanding a China downturn? Are there still opportunities in the key industry sectors in Asia that drive demand for trade finance and export credit insurance? How are governments mitigating potential political risks? What would be the new role of Export Credit Agencies, with the gradual withdrawal of government guarantees? Can the potential ASEAN Economic Community help ASEAN economies or weaken their domestic markets?
These would be some of the many burning issues facing the Asian marketplace, to be discussed at this important Global Political Risk, Project/Trade Finance, Capital Raising 2014 - Myanmar, ASEAN, New Growth Markets Summit.
Asia's and Myanmar's many financial decision makers, corporate leaders of Asia/Myanmar's leading state companies and private sector enterprises with grace this Summit together with senior Management Executives from international & regional banks, insurance, investment corporations, project developers, commodity traders, energy sources providers and equipment companies & Investors from Asia, Europe, USA, Australia & the the Middle East.
Get first hand insights into the constraints, challenges & opportunities especially for the newly emerging market of Myanmar.